MONTREAL, Jan. 25, 2013 /CNW Telbec/ - Boralex Inc. ("Boralex"), Gaz
Métro Limited partnership ("Gaz Métro") and Valener Inc. ("Valener")
are delighted that the Québec Ministry of Sustainable Development,
Environment, Wildlife and Parks has issued the environmental
authorization for the Seigneurie de Beaupré - 4 wind farm, a project
with an installed capacity of 68 MW located in the Côte-de-Beaupré
region.
"Receiving this authorization demonstrates, once again, the quality of
the Seigneurie de Beaupré wind power site, as well as our commitment to
developing the project in a respectful manner that addresses the
concerns of the community which has welcomed us," noted Patrick
Lemaire, President and Chief Executive Officer of Boralex, and Sophie
Brochu, President and Chief Executive Officer of Gaz Métro. "In fact,
after the BAPE environmental approval hearings, the consortium took
into account the issues raised by stakeholders and will keep them front
and centre as the project is being built."
With the environmental approval stage now behind them, the developers
can move ahead with the applications for construction permits and
arranging financing with financial institutions.
The Seigneurie de Beaupré wind farms are divided into two phases: a
first 272 MW phase that will start up by late 2013 and a second 68 MW
phase, for which construction will start as soon as possible now that
the authorization has been received from the Ministry. Located on land
owned by the Séminaire de Québec, 15 km north of St-Tite-des-caps and
60 km northeast of Quebec City, these projects will generate enough
electricity to supply more than 60,000 households.
For more information, please visit the Seigneurie de Beaupré wind farms
site at: www.seigneuriedebeaupre.com
About the Seigneurie de Beaupré Wind Farms
The Seigneurie de Beaupré Wind Farms, with a total contracted capacity
of 365 MW, are as of today the largest wind power project in
development in Canada. The first phase of 272 MW (Farms 2 & 3), which
is expected to start up in late 2013, and the second phase of 68 MW
(Farm 4), which is expected to start operating in late 2014, represent
the projects of the Boralex and Gaz Métro/Valener consortium. In
addition, the 25 MW Côte-de-Beaupré wind farm built by Boralex in
partnership with the Côte-de-Beaupré RCM is expected to start up in
2015.
About Boralex
Boralex is a power producer whose core business is dedicated to the
development and the operation of renewable energy power stations.
Currently, the Corporation operates an asset base with an installed
capacity of almost 500 MW in Canada, the Northeastern United States and
France. Boralex is also committed under power development projects,
both independently and with Canadian and European partners, to add
approximately 550 MW of power that will be put in service between 2013
and 2015. With more than 200 employees, Boralex is known for its diversified
expertise and in-depth experience in four power generation types —
wind, hydroelectric, thermal and solar. Boralex's shares and
convertible debentures are listed on the Toronto Stock Exchange under
the ticker symbols BLX and BLX.DB, respectively. More information is
available at www.boralex.com or www.sedar.com.
Certain statements contained in this press release, including those
regarding future results and performance, are forward-looking
statements based on current expectations. The accuracy of such
statements is subject to a number of risks, uncertainties and
assumptions that may cause actual results to differ materially from
those projected, including, but not limited to, the general impact of
economic conditions, raw material price increases and availability,
currency fluctuations, volatility in electricity selling prices, the
company's financing capacity, negative changes in general market
conditions and regulations affecting the industry, as well as other
factors listed in the Company's filings with different securities
commissions.
There can be no assurance as to the materialization of the results,
performance or achievements as expressed or implied by forward-looking
statements. The reader is cautioned not to place undue reliance on such
forward-looking statements. Unless required to do so under applicable
securities legislation, Boralex management does not assume any
obligation to update or revise forward-looking statements to reflect
new information, future events or other changes.
About Gaz Métro and Valener
With more than $5 billion in assets, Gaz Métro is a leading energy
provider. It is the largest natural gas distribution company in Quebec, where its 10,000 km
underground network of pipelines serves 300 municipalities and more
than 185,000 customers. Gaz Métro is also present in Vermont, producing
electricity and distributing electricity and natural gas to cater to
the needs to some 300,000 customers. Gaz Métro is actively involved in
the development of innovative, sustainability-oriented energy projects
such as the production of wind power, the use of natural gas as a
transportation fuel and the development of biomethane as a renewable
energy source. Gaz Métro is committed to ensuring the satisfaction of
its customers, providing support to businesses, local organizations,
families and communities, and meeting the needs of its partners (Gaz
Métro inc. and Valener) and employees. www.gazmetro.com
Valener owns an economic interest of approximately 29% in Gaz Métro.
Valener therefore has a stake in the energy industry and benefits from
Gaz Métro's diversified profile, both in terms of geography and
business segment. Valener also owns a 24.5% indirect interest in the
wind power projects jointly developed with Gaz Métro and Boralex Inc.
on the private lands of Séminaire de Québec. Valener's common shares
and preferred shares are listed on the Toronto Stock Exchange under the
"VNR" trading symbol for common shares and under the "VNR.PR.A" symbol
for Series A preferred shares. www.valener.com
Certain statements contained in this press release may be
forward-looking pursuant to applicable securities laws. Such
forward-looking statements reflect the intentions, plans, expectations
and opinions of the management (the "Management") of Gaz Métro inc. and
are based on information currently available to Management and
assumptions about future events. Forward-looking statements involve
known and unknown risks and uncertainties and other factors outside
Valener or Gaz Métro's control. A number of factors could cause actual
results of Valener and Gaz Métro to differ materially from the current
expectations as expressed in the forward-looking statements.
Although these forward-looking statements are based upon what Management
believes to be reasonable assumptions, Valener and Gaz Métro cannot
assure investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements are made
as of the date of this press release, and Valener and Gaz Métro assume
no obligation to update or revise them to reflect new events or
circumstances, except as required pursuant to applicable securities
laws. You are cautioned not to place undue reliance on these
forward-looking statements. The complete version of the cautionary note
regarding forward-looking statements as well as a description of the
relevant assumptions and risk factors likely to affect Valener's and
Gaz Métro's actual results are included in the Management's Discussion
and Analysis for the year ended September 30, 2012 of Valener and
Gaz Métro, and in Valener's disclosure filings. These documents are
available on SEDAR at www.sedar.com.
SOURCE: BORALEX INC.
